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High stakes

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After weeks of whining about a surge in competition, Macau's casino king, Stanley Ho Hung-sun, looks ready to take his medicine like a man. The former monopolist is standing fast in his old kitchen - despite warnings by new rivals that the heat is being turned up. Instead of backing off, he is making barbecued pork for gamblers.

Free barbecued pork, among other promotion gimmicks, heralds a sea change for Mr Ho's besieged kingdom. Two years after the first US casino hit Macau's shores, it seems that the tycoon has finally come to terms with the loss of his monopoly.

Mr Ho's adjustment highlights the change of mentality among people in this once-sleepy city. After initially grumbling over the competition created by the economic boom, they are adjusting to it. Since the opening of the Las Vegas-style Sands Macau in 2004, competition has spread from casinos to all walks of economic life, increasing people's stress levels.

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In May, competition from imported workers ignited the fury of thousands of protesters. They demanded an end to imported labour, despite the city's dire shortage of workers. Also feeling the pinch are the city's small enterprises - in their struggle against booming casinos and large Hong Kong firms. To cash in on the boom, Hong Kong's top three property agencies have increased their presence here, eating up many small fish in the pond. Their combined market share has quickly risen to nearly 30 per cent, from less than 3 per cent before the Sands opened.

On a grimmer front, mainland loansharks are gaining more ground against local competitors by using their skills in Putonghua and rich connections.

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The surge of competition caught many locals unprepared, according to sociologist Penny Chan Yan-yan. 'Used to a leisurely lifestyle, they were less willing to compete,' she said. 'And they felt stressed in the face of new investors and workers coming into Macau in droves.'

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